MIRA INFORM REPORT

Report Date :

28.12.2012

IDENTIFICATION DETAILS

Name :	ABS INDIA PRIVATE LIMITED (SINGAPORE BRANCH)
Registered Office :	133 New Bridge Road #25-08 Chinatown Point Singapore 059413
Country :	Singapore
Financials (as on) :	31.03.2012
Date of Incorporation :	14.09.2005
Com. Reg. No.:	T05FC6753J
Legal Form :	Foreign Company Registered In Singapore
Line of Business :	Sale & Service of Telecommunication Equipment
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30^th, 2012

Country Name	Previous Rating (31.03.2011)	Current Rating (30.06.2012)
Singapore	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SINGAPORE - ECONOMIC OVERVIEW

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

Source : CIA

Company Name:	Registered Number:
ABS INDIA PRIVATE LIMITED (SINGAPORE BRANCH)	T05FC6753J

Date Incorporated:	Registered Office:	Telephone Number:
14/09/2005	133 NEW BRIDGE ROAD #25-08 CHINATOWN POINT SINGAPORE 059413	6538 5488
Age of Company:	Website:	Industry Type:
7	NA	INFORMATION & COMMUNICATIONS

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		NA
NA
The entity is paying current to the creditors		No. of Charges(s): 0
Industry DTC
37

Directors		Corporate Structure
Number of Current Directors	3	Holding Company:	NA
Number that are shareholders	NA	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	ABS INDIA PRIVATE LIMITED (SINGAPORE BRANCH)
Registration No	:	T05FC6753J
Date of Registration	:	14/09/2005
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	FOREIGN COMPANY REGISTERED IN SINGAPORE
Registered Address	:	133 NEW BRIDGE ROAD #25-08 CHINATOWN POINT SINGAPORE 059413
Date of Change of Address	:	14/09/2005
Contact No.	:	6538 5488
Fax No.	:	NA
Website	:	NA
Registered Activities	:	GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) SALE & SERVICE OF TELECOMMUNICATION EQUIPMENT
Issued Ordinary Capital*	:	NA
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	NA
Paid-Up Preference Capital	:	NA
* Number of Shares includes number of Issued Treasury Shares
Issued Treasury Capital	:	NA
Paid-Up Treasury Capital	:	NA
No. of Local Subsidiaries	:	NA
No. of Local Associates	:	NA
Auditor	:	NA
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 5,181,001.00 (FY2012)
Net Worth	:	SGD - SIN 272,091.00 (FY2012)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA
S1000 / SME 1000 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000
Compounded Annual Growth Rate (CAGR)	:	NA

SHAREHOLDER DETAILS

No Trace

OFFICER DETAILS

NAME	:	VISVANATHAN PRADEEP
ADDRESS	:	2968 12TH MAIN 4TH CROSS HAL II STAGE INDIRA NAGAR BANGALORE 560008 INDIA
POSITION	:	DIRECTOR
DATE OF APPT	:	20/05/2002
NATIONALITY	:	INDIAN
I/C PASSPORT	:	E5475106
NAME	:	TAN KIM GUAN
ADDRESS	:	56 BUKIT BATOK STREET 31 #21-15 MADEIRA, THE SINGAPORE 659445
POSITION	:	AGENT
DATE OF APPT	:	03/07/2009
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1550820E
NAME	:	NG CHAI HAR
ADDRESS	:	4 QUEEN'S ROAD #05-131 SINGAPORE 260004
POSITION	:	AGENT
DATE OF APPT	:	03/07/2009
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1653417Z
NAME	:	SUNIL ARORA
ADDRESS	:	VARS VILLE FLAT NO. C1 1080 PART II 13TH MAIN ROAD HAL II STAGE BANGALORE 560038 INDIA
POSITION	:	DIRECTOR
DATE OF APPT	:	23/05/2002
NATIONALITY	:	INDIAN
I/C PASSPORT	:	Z1558340
NAME	:	PARSWANATH PADMARAJAIAH JAIN
ADDRESS	:	NO. 881 ANUGRUHA 6TH CROSS 6TH BLOCK KORAMANGALA BANGALORE 560095 KARNATAKA INDIA
POSITION	:	DIRECTOR
DATE OF APPT	:	23/05/2002
NATIONALITY	:	INDIAN
I/C PASSPORT	:	Z2024341

KEY PERSONNEL PROFILE

Name:	VISVANATHAN PRADEEP
NRIC Number:	E5475106
Available Address:	2968 12TH MAIN 4TH CROSS HAL II STAGE INDIRA NAGAR BANGALORE 560008 INDIA

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	ABS INDIA PRIVATE LIMITED (SINGAPORE BRANCH)	DIRECTOR	20/05/2002	-	NA

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	ABS SINGAPORE PTE. LTD.	STRUCK OFF	DIRECTOR	10/09/2003	05/03/2012
2	ABS SINGAPORE PTE. LTD.	STRUCK OFF	SHAREHOLDER	-	05/03/2012

Bankruptcy Record

Case No.	Year	Date of Filing	Petitioner Name	Amount
No Trace

Litigation Search – Writ of Summons

Court	Case No.	Transfer	Year	Date of Filing	Amount	Cause Category
No Trace

SUBSIDIARIES AND ASSOCIATE COMPANIES

Company	Shareholdings (%)
NA

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there are no bank charges registered against Subject by its bankers.

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	27/09/2012
Date of Last AR	:	NA
Date of A/C Laid At Last AGM	:	31/03/2012

COMPLIANCE RATING FOR ANNUAL FILING

-	NOT APPLICABLE/COMPANY STATUS IS NOT LIVE

Note:

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

For more information: www.acra.gov.sg/compliance

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	MAR 2012	% Change	MAR 2011
Currency	SGD - SIN		SGD - SIN
Profit and Loss Key Figures
Turnover	5,181,001	-34.00	7,850,582
Profit/(Loss) Before Tax	1,140,218	13.61	1,003,609
Profit After Tax attributable to Shareholders	965,768	12.33	859,727
Balance Sheet Key Figures
Total Assets	2,328,965	80.80	1,288,178
Current Assets	2,328,965	80.80	1,288,178
Non Current Assets	0	NA	0
Total Liabilities	2,056,874	61.43	1,274,147
Current Liabilities	2,056,874	61.43	1,274,147
Non Current Liabilities	0	NA	0
Shareholders' Funds	272,091	1,839.35	14,030
Share Capital	0	NA	0
Total Reserves	272,091	1,839.35	14,030

FINANCIAL RATIOS

	Company
	MAR 2012	MAR 2011
Growth %
Year-on-Year Growth	-34.00	NA
Profitability
Profit Margin (%)	18.64	10.95
Return on Equity (%)	354.94	6,127.78
Return on Assets (%)	41.47	66.74
Leverage
Total Debt/Equity (Times)	7.56	90.82
Current Debt/Equity (Times)	7.56	90.82
Long Term Debt To Equity (Times)	0.00	0.00
Total Asset To Total Equity (Times)	8.56	91.82
Asset Management
Total Assets Turnover (Times)	2.22	6.09
Fixed Assets Turnover (Times)	0.00	0.00
Liquidity
Current Ratio (Times)	1.13	1.01

FINANCIAL COMMENTARY

Profitability

The company yielded a rate of net profit on sales of 18.64 per cent in FY12 (FY11: 10.95 per cent). The company is now able to book in SGD - SIN 0.19 of profit for every SGD - SIN of sales in FY12, as compared with SGD - SIN 0.11 a year ago.

Liquidity

Current ratio stood at 1.13 times in FY12 (FY11: 1.01 times). This means that the company has SGD - SIN 1.13 of current assets for every SGD - SIN of current liability incurred.

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

FINANCIAL COMMENTARY

Leverage

Total debt-to-equity ratio notched 7.56 times in FY12, compared with 90.82 times in FY11. This means that the company requires additional external financing of SGD - SIN 7.56 for every SGD - SIN injected into its operations.

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

Efficiency Ratio

Return on equity was 354.94 per cent for Subject in the current financial period, as compared to 6,127.78 per cent a year ago. The return on equity measures the return earned on the owner's investment. Generally, the higher this return, the better off the owner.

Return on assets stood at 41.47 per cent (FY11: 66.74 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

Total assets turnover ratio logged at 2.22 times in FY12 (FY11: 6.09 times). This ratio measures the company's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.84
UK Pound	1	Rs.88.55
Euro	1	Rs.72.63

INFORMATION DETAILS

Report Prepared by :

PRL

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.